Subject: File No. 4-606
From: Charles R Ieuter

July 30, 2010

Changing to a fiduciary standard is the wrong way to go with this. More regulations and paperwork will mean less time spent working with and helping clients determine what they want to have happen with their financial future. Most registered reps are like me - spending as much time as possible in clients offices and kitchens talking to them about their goals for their families. Find those who abuse the system and penalize them, but do not put onerous regulations on everyone. The families that won't get seen as often will lose. That will mean more children struggling to go to college and more people struggling through retirement. Thanks.